SURE - AdvisorShares Insider Advantage ETF

Find the Insider Advantage

Invest in firms reducing their equity float through buyback programs and insider buying

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4-Star
Morningstar Rated

Overall Morningstar Rating. Mid-Cap Blend. Based on risk-adjusted return out of 373 funds in the Mid-Cap Blend category as of September 30th, 2025.

Symbol Exchange Inception Date CUSIP NAV Options Available
SURE NYSE Arca 10/4/2011 00768Y818 SURE.NV Yes
About the ETF

Following a core investment philosophy that corporate insiders know their companies the best, the AdvisorShares Insider Advantage ETF (SURE) seeks to invest in the equities of companies actively trying to reduce their public equity float through well-executed stock buyback programs and corporate insider buying. Not only do buybacks and insider buying demonstrate that executives may see relative value in the firm’s stock, they also could create favorable shareholder market conditions through the reduction of publicly available shares (float shrink). SURE selects holdings using an active, quantitative, multi-factor model to identify companies shrinking float, lowering leverage, growing free cash flow, and providing dividends. SURE’s holdings are equal-weighted and reconstituted/rebalanced monthly.

What Is Float Shrink?

Public equity float refers to the portion of a company’s outstanding shares that is in the hands of public investors – as opposed to company officers, directors, or stockholders that hold controlling interests – and are available for trading in the open market. The float is calculated by subtracting restricted shares from outstanding shares. Float shrink occurs when there is a reduction of publicly available shares.

Buybacks – action taken by a corporation to repurchase its own shares from the marketplace – are the most common cause of float shrink today and one of two ways a company can distribute profits to shareholders. Dividend payments are the second form. While firms may implement both, since 1997, share buybacks have surpassed cash dividends to become the dominant form of corporate payout in the U.S. Not only do buybacks avoid a stock price penalty if a firm cuts or ends a program, like dividends are subject to, but also provide a positive market impact by improving earnings and cash flow per share.

Insider buying – the purchase of shares in a corporation by a board member, officer, or executive within that company (i.e., corporate insider) – is another way that float shrink occurs. It may be a strong indicator that insiders are becoming more optimistic about the company’s future. Buying by corporate insiders is legal, highly regulated, publicly disclosed, and different from “insider trading” – the illegal act of buying or selling stock by someone who has privileged, non-public information about a company.

 

Why Invest?
  • Investing with Corporate Insiders – Top firm executives know more about the company’s fundamentals than the investing public. These insiders can influence their company’s share price by timing equity issuance and repurchase to the firm’s advantage. A well-implemented buyback program reduces publicly available shares and can increase the stock’s price. Additionally, corporate insider buying can be a bullish signal that the stock is underpriced by the market.
  • Conscientious Float Shrink – Investing solely in stock buybacks can be problematic. SURE employs a comprehensive, multi-factor strategy to assess if a firm is reducing their float in a well-planned manner, analyzing free cash flow, profitability, leverage reduction, dividend yield, net buybacks and insider buying.
  • Disciplined Growth – A quantitative, actively managed, equal weight investment strategy focused on long-term growth.

 

Key Attributes
  • Float Shrink – Corporate insiders have better information than the investing public and know their companies the best. Stock buyback programs and insider buying not only show that corporate insiders see relative value in investing in their own equity securities, but also create favorable market conditions for shareholders by reducing the number of publicly traded shares and improving earnings and cash flow per share.
  • Extensive Stock Screening – SURE’s portfolio manager screens approximately 3,000 companies and looks for the following characteristics when selecting stocks: shareholder-friendliness (measured by float shrink and dividend yield), profitability (measured by free cash flow), solid balance sheet (measured by outstanding leverage).
  • Equal Weight Investing – In a market-cap weighted portfolio, a small number of the largest companies receive the heaviest allocations and overvalued components are overweighted relative to undervalued components. By contrast, with an equal weight strategy, the bias to the largest companies is removed; a buy low, sell high discipline is regularly followed with periodic rebalancing; and reallocation to undervalued stocks may provide the opportunity to capture long-term equity performance.
  • Actively Managed ETF Structure – SURE is different from other buyback-focused investments that follow passive, market-cap weighted indexes and only reconstitute annually. SURE re-evaluates its investable universe and existing holdings monthly – adding or removing stocks and returning each security to an equal-weight allocation – allowing SURE to react more quickly to changes in buyback programs, acquisition announcements, etc. An ETF structure allows for better tax efficiency than mutual funds or than investing in the underlying stocks directly.
Where Can SURE Fit in a Traditional Portfolio?

SURE can serve as a thematic investment or a complement to a dividend investing or market-cap weighted core strategy.

About the Portfolio Strategist

Minyi Chen, Portfolio Strategist

Minyi Chen, CFA is the founder and CEO of Qubed Capital, a registered investment advisor founded in 2015 and based in Oakland, California. For over a decade, Mr. Chen has been providing quantitative financial research and analysis along with proprietary investment models to both retail and institutional investors. In the past, Mr. Chen has served as a portfolio manager of the AdvisorShares TrimTabs Float Shrink ETF (ticker: TTFS) and the TrimTabs International Free-Cash-Flow ETF (ticker: FCFI).

 

 

SURE Overview 

Get a quick and easy introduction to the SURE ETF.

 

SURE Overview

  Get a quick and easy introduction to the SURE ETF.

Fund

Price History

Fund Data

10/30/2025
NAV $122.51
Change $-0.45
Shares Outstanding 380,000
Assets Under Management $46,553,985.94

 

 

 

 

Market Data

10/29/2025
Closing Price $122.72
Close Change $-0.68
Volume 395

Regulatory Data

10/29/2025
Premium Discount $-0.23
30-Day Median bid-ask Spread 0.000000
Premium/Discount Historical Data | NAV Historical Data | Daily Premium/Discount Historical Data

Shares are bought and sold at market price (closing price) not NAV and are not individually redeemed from the Fund. Market price returns are based on the midpoint of the bid/ask spread at 4:00 pm Eastern Time (when NAV is normally determined), and do not represent the return you would receive if you traded at other times.

FUND

Characteristics

As of 9/30/2025

Source: Morningstar & AdvisorShares

FUND

Performance

As of 9/30/2025

 

  NAV Market Price Return Russell 3000 Index
1 Month 0.92 0.64 3.45
3 Months 5.75 5.35 8.18
YTD 6.59 6.29 14.40
1 Year 4.96 4.73 17.41
3 Years 18.11 18.00 24.12
5 Years 13.64 13.60 15.74
10 Years 10.12 10.10 14.71
Since Inception (10/04/2011, Annualized) 12.77 12.75 15.34

As of 9/30/2025

  NAV Market Price Return Russell 3000 Index
1 Month 0.92 0.64 3.45
3 Months 5.75 5.35 8.18
YTD 6.59 6.29 14.40
1 Year 4.96 4.73 17.41
3 Years 18.11 18.00 24.12
5 Years 13.64 13.60 15.74
10 Years 10.12 10.10 14.71
Since Inception (10/04/2011, Annualized) 12.77 12.75 15.34

As of 9/30/2025

  NAV Market Price Return Russell 3000 Index
1 Month 0.92 0.64 3.45
3 Months 5.75 5.35 8.18
YTD 6.59 6.29 14.40
1 Year 4.96 4.73 17.41
3 Year 18.11 18.00 24.12
Since 9/1/2022, Annualized 13.52 13.52 19.56

Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized.

*On September 1, 2022, the AdvisorShares DoubleLine Value Equity ETF (the “Predecessor Fund”) was renamed the AdvisorShares Insider Advantage ETF. The Predecessor Fund had different portfolio managers and investment strategy than the AdvisorShares Insider Advantage ETF. Performance prior to September 1, 2022 reflects the Fund’s performance prior to the change in manager and investment strategy and may not be indicative of the Fund’s performance under the new manager and revised investment strategy. Performance since September 1, 2022 reflects actual  AdvisorShares Insider Advantage ETF performance.

Performance data quoted represents past performance and is no guarantee of future results. All Fund data and performance data quoted is believed to be accurate, and unless otherwise stated, is sourced from the Fund administrator, the Advisor’s or Sub-Advisor’s proprietary data, and Morningstar. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. One cannot invest directly in an index. The Russell 1000 Index represents the top 1000 companies by market capitalization in the United States. The index is a subset of the Russell 3000 Index. The Russell 3000 Index is broad market, capitalization-weighted index comprised of the largest 3,000 U.S. companies and represents 98% of the investable U.S. equity market. 

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Fund

Holdings

As of

Excel    CSV

Date Account Symbol Stock Ticker Security ID Security Description Shares Share Price Market Value Portfolio Weight Asset Group
10/30/2025 SURE LRCX 512807306 LAM RESEARCH CORP 4,663 161.01 750,789.63 1.61% S
NSSC 630402105 NAPCO SECURITY TECHNOLOGIES 15,355 43.78 672,241.90 1.44% S
GOOG 02079K107 ALPHABET INC-CL C 2,336 281.90 658,518.40 1.41% S
KLAC 482480100 KLA CORP 496 1,214.41 602,347.36 1.29% S
CAT 149123101 CATERPILLAR INC 1,011 583.15 589,564.65 1.27% S
AAPL 037833100 APPLE INC 2,163 271.40 587,038.20 1.26% S
PINC 74051N102 PREMIER INC-CLASS A 20,810 28.14 585,593.40 1.26% S
AMAT 038222105 APPLIED MATERIALS INC 2,442 232.55 567,887.10 1.22% S
DELL 24703L202 DELL TECHNOLOGIES -C 3,512 161.01 565,467.12 1.21% S
AMG 008252108 AFFILIATED MANAGERS GROUP 2,275 236.68 538,447.00 1.16% S
FCFS 33768G107 FIRSTCASH HOLDINGS INC 3,383 158.45 536,036.35 1.15% S
PAGS G68707101 PAGSEGURO DIGITAL LTD-CL A 56,848 9.38 533,234.24 1.15% FS
HCA 40412C101 HCA HEALTHCARE INC 1,142 466.80 533,085.60 1.15% S
NVDA 67066G104 NVIDIA CORP 2,598 202.89 527,108.22 1.13% S
MPC 56585A102 MARATHON PETROLEUM CORP 2,688 195.63 525,853.44 1.13% S
APA 03743Q108 APA CORP 23,277 22.40 521,404.80 1.12% S
NUE 670346105 NUCOR CORP 3,462 149.74 518,399.88 1.11% S
JBHT 445658107 HUNT (JB) TRANSPRT SVCS INC 3,106 166.64 517,583.84 1.11% S
FTI G87110105 TECHNIPFMC PLC 12,351 41.79 516,148.29 1.11% FS
JOE 790148100 ST JOE CO/THE 9,404 54.85 515,809.40 1.11% S
CSCO 17275R102 CISCO SYSTEMS INC 6,927 72.91 505,047.57 1.08% S
RL 751212101 RALPH LAUREN CORP 1,557 322.88 502,724.16 1.08% S
J 46982L108 JACOBS SOLUTIONS INC 3,167 158.22 501,082.74 1.08% S
QCOM 747525103 QUALCOMM INC 2,789 177.26 494,378.14 1.06% S
CMBT B38564108 CMB TECH NV 52,309 9.39 491,181.51 1.06% FS
NYT 650111107 NEW YORK TIMES CO-A 8,543 56.82 485,413.26 1.04% S
TJX 872540109 TJX COMPANIES INC 3,410 142.29 485,208.90 1.04% S
PH 701094104 PARKER HANNIFIN CORP 626 774.35 484,743.10 1.04% S
NTAP 64110D104 NETAPP INC 4,190 115.57 484,238.30 1.04% S
OTIS 68902V107 OTIS WORLDWIDE CORP 5,230 92.49 483,722.70 1.04% S
NRG 629377508 NRG ENERGY INC 2,792 173.14 483,406.88 1.04% S
MSFT 594918104 MICROSOFT CORP 914 525.76 480,544.64 1.03% S
WFC 949746101 WELLS FARGO & CO 5,581 85.99 479,910.19 1.03% S
ACN G1151C101 ACCENTURE PLC-CL A 1,925 249.25 479,806.25 1.03% FS
TKO 87256C101 TKO GROUP HOLDINGS INC 2,548 187.78 478,463.44 1.03% S
BAC 060505104 BANK OF AMERICA CORP 8,996 53.03 477,057.88 1.02% S
XOM 30231G102 EXXON MOBIL CORP 4,138 114.69 474,587.22 1.02% S
TTC 891092108 TORO CO 6,318 75.08 474,355.44 1.02% S
PHM 745867101 PULTEGROUP INC 3,972 119.04 472,826.88 1.02% S
EME 29084Q100 EMCOR GROUP INC 726 648.00 470,448.00 1.01% S
SHW 824348106 SHERWIN-WILLIAMS CO/THE 1,346 347.90 468,273.40 1.01% S
DHI 23331A109 DR HORTON INC 3,136 149.29 468,173.44 1.01% S
MCD 580135101 MCDONALD'S CORP 1,540 302.43 465,742.20 1.00% S
RPRX G7709Q104 ROYALTY PHARMA PLC- CL A 12,583 36.94 464,816.02 1.00% FS
CTS 126501105 CTS CORP 11,400 40.76 464,664.00 1.00% S
UNH 91324P102 UNITEDHEALTH GROUP INC 1,346 344.75 464,033.50 1.00% S
ODFL 679580100 OLD DOMINION FREIGHT LINE 3,368 137.25 462,258.00 0.99% S
PHIN 71880K101 PHINIA INC 8,905 51.90 462,169.50 0.99% S
JPM 46625H100 JPMORGAN CHASE & CO 1,490 309.44 461,065.60 0.99% S
HLT 43300A203 HILTON WORLDWIDE HOLDINGS IN 1,758 260.18 457,396.44 0.98% S
MSCI 55354G100 MSCI INC 780 583.14 454,849.20 0.98% S
CSX 126408103 CSX CORP 12,728 35.64 453,625.92 0.97% S
MTG 552848103 MGIC INVESTMENT CORP 16,456 27.50 452,540.00 0.97% S
HON 438516106 HONEYWELL INTERNATIONAL INC 2,250 200.11 450,247.50 0.97% S
ADI 032654105 ANALOG DEVICES INC 1,925 232.90 448,332.50 0.96% S
ESNT G3198U102 ESSENT GROUP LTD 7,316 60.68 443,934.88 0.95% FS
URI 911363109 UNITED RENTALS INC 514 858.91 441,479.74 0.95% S
ZTS 98978V103 ZOETIS INC 3,045 144.10 438,784.50 0.94% S
BR 11133T103 BROADRIDGE FINANCIAL SOLUTIO 1,972 221.00 435,812.00 0.94% S
RNR G7496G103 RENAISSANCERE HOLDINGS LTD 1,709 254.36 434,701.24 0.93% FS
ITW 452308109 ILLINOIS TOOL WORKS 1,781 243.64 433,922.84 0.93% S
COP 20825C104 CONOCOPHILLIPS 4,905 88.14 432,326.70 0.93% S
GGG 384109104 GRACO INC 5,320 80.66 429,111.20 0.92% S
R 783549108 RYDER SYSTEM INC 2,528 169.40 428,243.20 0.92% S
SEIC 784117103 SEI INVESTMENTS COMPANY 5,271 80.80 425,896.80 0.91% S
WLY 968223206 WILEY (JOHN) & SONS-CLASS A 11,628 36.59 425,468.52 0.91% S
POOL 73278L105 POOL CORP 1,533 277.20 424,947.60 0.91% S
GL 37959E102 GLOBE LIFE INC 3,194 132.44 423,013.36 0.91% S
AOS 831865209 SMITH (A.O.) CORP 6,338 66.70 422,744.60 0.91% S
DVN 25179M103 DEVON ENERGY CORP 13,181 32.01 421,923.81 0.91% S
CHDN 171484108 CHURCHILL DOWNS INC 4,180 100.40 419,672.00 0.90% S
HIG 416515104 HARTFORD INSURANCE GROUP INC 3,397 123.46 419,393.62 0.90% S
PRG 74319R101 PROG HOLDINGS INC 14,251 29.35 418,266.85 0.90% S
YUM 988498101 YUM! BRANDS INC 3,004 139.06 417,736.24 0.90% S
RS 759509102 RELIANCE INC 1,475 279.89 412,837.75 0.89% S
EG G3223R108 EVEREST GROUP LTD 1,329 309.18 410,900.22 0.88% FS
META 30303M102 META PLATFORMS INC-CLASS A 616 666.47 410,545.52 0.88% S
VNT 928881101 VONTIER CORP 10,755 38.08 409,550.40 0.88% S
V 92826C839 VISA INC-CLASS A SHARES 1,186 345.03 409,205.58 0.88% S
BYD 103304101 BOYD GAMING CORP 5,281 77.40 408,749.40 0.88% S
TMUS 872590104 T-MOBILE US INC 1,925 210.65 405,501.25 0.87% S
WH 98311A105 WYNDHAM HOTELS & RESORTS INC 5,506 73.10 402,488.60 0.86% S
MMC 571748102 MARSH & MCLENNAN COS 2,250 178.67 402,007.50 0.86% S
BKNG 09857L108 BOOKING HOLDINGS INC 79 5,080.21 401,336.59 0.86% S
GNTX 371901109 GENTEX CORP 16,986 23.56 400,190.16 0.86% S
MUSA 626755102 MURPHY USA INC 1,101 363.46 400,169.46 0.86% S
FCNCA 31946M103 FIRST CITIZENS BCSHS -CL A 223 1,778.50 396,605.50 0.85% S
VRSN 92343E102 VERISIGN INC 1,682 235.60 396,279.20 0.85% S
DOX G02602103 AMDOCS LTD 4,716 83.85 395,436.60 0.85% FS
TTEK 88162G103 TETRA TECH INC 12,256 32.18 394,398.08 0.85% S
EOG 26875P101 EOG RESOURCES INC 3,724 105.46 392,733.04 0.84% S
MCRI 609027107 MONARCH CASINO & RESORT INC 4,368 89.70 391,809.60 0.84% S
ALSN 01973R101 ALLISON TRANSMISSION HOLDING 4,675 83.58 390,736.50 0.84% S
BSY 08265T208 BENTLEY SYSTEMS INC-CLASS B 7,696 50.33 387,339.68 0.83% S
MATX 57686G105 MATSON INC 3,830 97.33 372,773.90 0.80% S
BBWI 070830104 BATH & BODY WORKS INC 15,352 23.93 367,373.36 0.79% S
HNI 404251100 HNI CORP 8,740 41.39 361,748.60 0.78% S
CNXC 20602D101 CONCENTRIX CORP 8,644 40.96 354,058.24 0.76% S
VRSK 92345Y106 VERISK ANALYTICS INC 1,615 217.60 351,424.00 0.75% S
IRDM 46269C102 IRIDIUM COMMUNICATIONS INC 18,296 17.64 322,741.44 0.69% S
SOLSV 83443Q103 SOLSTICE ADVANCED MATERI-W/I 562.5 48.74 27,416.25 0.06% S
CASH 220,919.27 100.00 220,919.27 0.47% CA
X9USDBLYT BLACKROCK TREASURY TRUST INSTL 62 69,820.93 1.00 69,820.93 0.15% MM
Holdings and allocations are subject to risks and to change. 

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FUND

Fees & Expenses

Management Fee 0.70%
Total Annual Operating Expenses 1.07%
Total Annual Operating Expenses After Waiver/Reimbursement* 0.90%

*The Advisor has contractually agreed to keep net expenses from exceeding 0.90% of the Fund’s average daily net assets for at least one year from the date of the prospectus. For more information, please read the full prospectus.

Last Ten

Fund Distributions

  • Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund’s website at www.AdvisorShares.com. Please read the prospectus carefully before you invest. Foreside Fund Services, LLC, Distributor. 
  •    
  • The Fund’s investment focus follows a core philosophy that corporate insiders know their companies best.  The Advisor believes that insider buying and stock buyback programs not only show that corporate insiders see relative value in investing in their own company’s equity securities, but also create favorable market conditions by reducing public equity float (i.e., the share supply available to investors on the public secondary market).  The Advisor allocates the Fund’s portfolio using research from a disciplined and quantitative proprietary model, the U.S. Insiders Edge Model, developed by Qubed Capital, LLC. In utilizing the model, the Advisor seeks to remove emotion from day-to-day decision-making by following a systematic process.
  •  
  •  
  • The Fund is an actively-managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by primarily investing in a portfolio of U.S. traded companies selected from a universe of the largest 3,000 U.S. equity securities based on market capitalization. When models and data prove to be incorrect or incomplete, any decisions made in reliance thereon expose the Fund to potential risks. In addition, the use of predictive models has inherent risk.
  •  
  • Definitions   
    A buyback occurs when a company repurchases its own shares from the marketplace, reducing the number of shares outstanding.
  •   
  • Equity float is the portion of a company’s outstanding shares that is in the hands of public investors, as opposed to company officers, directors, or stockholders that hold controlling interests that have trading restrictions.
  •     
  • Float shrink is a reduction in the number of a company’s shares available for trading.
  •   
  • Free cash flow represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. It is a measure of profitability and represents the cash available for the company to repay creditors and pay out dividends and interest to investors.
  •  
  • An insider is an officer, director, executive, entity, or individual that owns more than 10% of a publicly traded company’s shares.
  •   
  • Insider buying is the legal purchase of shares in a firm by a corporate insider that is not based on non-public, material information and follows the U.S. Securities and Exchange Commission’s rules and reporting requirements. 
  •  
  •  
  • Insider trading is the illegal trading a publicly traded company’s security by anyone who has non-public, material information about that security before the information becomes public.

The Morningstar Rating™ for funds, or “star rating,” is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Past performance is no guarantee of future results.   

©2025 Morningstar, Inc. All Rights Reserved. Morningstar and/or its content providers are the proprietors of this information; do not permit its unauthorized copying or distribution; do not warrant it to be accurate, complete or timely; and are not responsible for damages or losses arising from its use.  

SURE received four stars for the 3-year rating among 373 funds, four stars for the 5-year rating among 348, three stars for the 10-year rating among 254 funds, and four stars for the overall rating among 373 funds in Morningstar’s Mid-Cap Blend category as of September 30th, 2025.